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CHOROS System

  • #3,741
  • Feb 1, 2011 7:20am Feb 1, 2011 7:20am
Quoting metrilbg
It would be nice to see whole process of taking a trade, keeping it and taking profit/loss on a video. Especially if it is made by a experienced dancer like Kostas.

For me it would be nice if the constrainment expert - Survivor made one too.
Guys, my busy schedule (work and trading) leaves little time for family. Too hard to do anything like that (even if I knew how). But from time to time I post here some coming signals so that everybody can see how the trade develops in real time.
  • #3,742
  • Feb 1, 2011 8:12am Feb 1, 2011 8:12am
Quoting kostas1
Guys, my busy schedule (work and trading) leaves little time for family. Too hard to do anything like that (even if I knew how). But from time to time I post here some coming signals so that everybody can see how the trade develops in real time.
Kostas as you're trading while at work, can i ask how you monitor the market?

Do you have emails or SMS sent to you when price nears an ema? or do you just have the screen open in your office all day and watch the market in the background while working?
  • #3,743
  • Feb 1, 2011 8:13am Feb 1, 2011 8:13am
I have tried to make an alert for the usage of Dance/CHOROS for fun.

This indicator can allow user to set an alert so that if the close price of a bar is getting near (15 pips away for example) the EMA50 line (or other EMA parameter value), the MT4 will give an alert, and the user don't need to keep watching the chart of the pair when the price is hundred pip away from the EMA50.

There is no gurantee the indicator works as expected, try at your own risk.

The attached image shows where the alerts may have given when the indicator is turning on.
Attached Image (click to enlarge)
Click to Enlarge Name: testing.gif Size: 15 KB
Attached File(s)
File Type: mq4 EMA Approaching Signal.mq4   4 KB | 449 downloads
  • #3,744
  • Feb 1, 2011 8:29am Feb 1, 2011 8:29am
Quoting kk007
I have tried to make an alert for the usage of Dance/CHOROS for fun.

This indicator can allow user to set an alert so that if the close price of a bar is getting near (15 pips away for example) the EMA50 line (or other EMA parameter value), the MT4 will give an alert, and the user don't need to keep watching the chart of the pair when the price is hundred pip away from the EMA50.

There is no gurantee the indicator works as expected, try at your own risk.

The attached image shows where the alerts may have given when the indicator is turning on....
thks very much kk i appreciate it, its pretty stressful for me sometimes watching charts 8 hrs a day .... i tend to get impatient sometimes and force a trade ....

please dont worry about it not being perfected .... i will try it out with that in mind
  • #3,745
  • Feb 1, 2011 11:13am Feb 1, 2011 11:13am
Quoting kk007
I have tried to make an alert for the usage of Dance/CHOROS for fun.

This indicator can allow user to set an alert so that if the close price of a bar is getting near (15 pips away for example) the EMA50 line (or other EMA parameter value), the MT4 will give an alert, and the user don't need to keep watching the chart of the pair when the price is hundred pip away from the EMA50.

There is no gurantee the indicator works as expected, try at your own risk.

The attached image shows where the alerts may have given when the indicator is turning on....
Nice. What are the parameters for SMA 35?
  • #3,746
  • Feb 1, 2011 6:27pm Feb 1, 2011 6:27pm
Quoting K_Minos
Nice. What are the parameters for SMA 35?
Not there yet. When I have time I added this to the indicator.

At the moment, the parameter and the default value that you can use are:

Gapping: how far away the bar close from the target line that you want the indicator to give you alert. The default value is 150 or 15 pip

FasterEMA: 1 for using bar close as the checking value

SlowerEMA: the moving average parameter you want to use as the target line. Default value is 50 and you may change it.

SoundON: Once the bar close reach the attention region and give you an alert. You may turn it off, since no more alert is needed.

TIPS: It is not necessary to add this indicator to the chart you usually watch and trade with. If you trade GBPUSD on a M15 chart, you can open another GBPUSD M15 chart and add the indicator to it and minimize it.
  • #3,747
  • Feb 1, 2011 10:20pm Feb 1, 2011 10:20pm
Quoting fugly
Kostas as you're trading while at work, can i ask how you monitor the market?

Do you have emails or SMS sent to you when price nears an ema? or do you just have the screen open in your office all day and watch the market in the background while working?
B) Just have the screen open in your office all day and watch the market in the background while working (one good thing about being a director and having created a good team is that you can have some spare time.....)
  • #3,748
  • Feb 1, 2011 10:22pm Feb 1, 2011 10:22pm
Quoting kk007
I have tried to make an alert for the usage of Dance/CHOROS for fun.

This indicator can allow user to set an alert so that if the close price of a bar is getting near (15 pips away for example) the EMA50 line (or other EMA parameter value), the MT4 will give an alert, and the user don't need to keep watching the chart of the pair when the price is hundred pip away from the EMA50.

There is no gurantee the indicator works as expected, try at your own risk.

The attached image shows where the alerts may have given when the indicator is turning on....
Nice one my friend.
  • #3,749
  • Feb 1, 2011 11:51pm Feb 1, 2011 11:51pm
OK here is one that may work for 20-25p:
EU confluence of:
1. Daily Pivot
2. H4 10
3. RN (14 pips higher than DP)
4. Possibly H1 35

If you see a good M5 rejection bar at that area, go long for 20-25 pips. I will probably go long 5 pips below DP (around 1.3781) without waiting for an M5 bar but waiting for a good M1 rejection action.
  • #3,750
  • Feb 2, 2011 12:03am Feb 2, 2011 12:03am
I was just looking at that possibility Kostas. Good call.
Trade price action
  • #3,751
  • Feb 2, 2011 12:17am Feb 2, 2011 12:17am
Quoting mrspips
I was just looking at that possibility Kostas. Good call.
Yep, unless it bounces long really hard from H1 10, then that signal may not be good anymore...
  • #3,752
  • Feb 2, 2011 12:21am Feb 2, 2011 12:21am
Well, that is why we have to constantly monitor how price develops and adjust our technical analysis accordingly.
Trade price action
  • #3,753
  • Feb 2, 2011 6:11am Feb 2, 2011 6:11am
Quoting kk007
I have tried to make an alert for the usage of Dance/CHOROS for fun.

This indicator can allow user to set an alert so that if the close price of a bar is getting near (15 pips away for example) the EMA50 line (or other EMA parameter value), the MT4 will give an alert, and the user don't need to keep watching the chart of the pair when the price is hundred pip away from the EMA50.

There is no gurantee the indicator works as expected, try at your own risk.

The attached image shows where the alerts may have given when the indicator is turning on....
Hi, I'm getting messages for "ema cross trend"

??? I don't think this is in relation we the dance, how can we turn them off

Thanks
  • #3,754
  • Feb 2, 2011 7:19am Feb 2, 2011 7:19am
Quoting kostas1
OK here is one that may work for 20-25p:
EU confluence of:
1. Daily Pivot
2. H4 10
3. RN (14 pips higher than DP)
4. Possibly H1 35

If you see a good M5 rejection bar at that area, go long for 20-25 pips. I will probably go long 5 pips below DP (around 1.3781) without waiting for an M5 bar but waiting for a good M1 rejection action.
Excellent analysis Kostas...turned out to be a very nice bounce with enough confluence you listed above to put the probabilities in favor of the trade.
  • #3,755
  • Feb 2, 2011 8:05am Feb 2, 2011 8:05am
Quoting K_Minos
Hi, I'm getting messages for "ema cross trend"

??? I don't think this is in relation we the dance, how can we turn them off

Thanks
OK. the text message is wrong. You may ignore the wording, only the alert is important. I will change the wordings when I have time later.
  • #3,756
  • Feb 2, 2011 6:11pm Feb 2, 2011 6:11pm
Quoting kostas1
OK here is one that may work for 20-25p:
EU confluence of:
1. Daily Pivot
2. H4 10
3. RN (14 pips higher than DP)
4. Possibly H1 35

If you see a good M5 rejection bar at that area, go long for 20-25 pips. I will probably go long 5 pips below DP (around 1.3781) without waiting for an M5 bar but waiting for a good M1 rejection action.
If I am getting the right place (scrolling back in hindsight as I wasn't around when you called it), these are trades that I am not attempting at the moment. (or trying not to, if I can control myself! )

The M15 says short, and it is close to the H1 MAs which say long - so I generally stay out and wait for the action to move into a better area.

I am trying to only trade from M15 using the others for confirmation.

And yes, I mean "trying" - difficult to watch trades go by when you've missed the entries, etc..... I've got a bit of a canine mentality that says "woof-woof, chase it!"
  • #3,757
  • Feb 2, 2011 6:43pm Feb 2, 2011 6:43pm
Only 1 attempt last night.

Got in on the retrace to the M15 10. Price was down in the circled area on the M1, but of course the spread had me enter a fair bit higher (nearly 4 pips).

Was close to the pivot, so shortened stop where I could.

Moved SBE+1 when price went above pivot, target was just below RN for 20 pips. Then it came back and took me out (+1 is better than -).

I didn't re-enter on the M15 21/H1 10 because expected news and needed to call it a night anyway.

Attached Image (click to enlarge)
Click to Enlarge Name: gbp-110202.jpg Size: 85 KB
  • #3,758
  • Feb 2, 2011 10:20pm Feb 2, 2011 10:20pm
Quoting ragu
Excellent analysis Kostas...turned out to be a very nice bounce with enough confluence you listed above to put the probabilities in favor of the trade.
Thanks man,
I was able to call it a day with that trade.
Kostas

P.S. I lived in Santa Clara for 6 yrs and I noticed you are from Marin. Greetings to the bay area which I miss (Muir Woods was my favorite forest for hiking....)
  • #3,759
  • Feb 2, 2011 10:23pm Feb 2, 2011 10:23pm
Quoting bigtent
If I am getting the right place (scrolling back in hindsight as I wasn't around when you called it), these are trades that I am not attempting at the moment. (or trying not to, if I can control myself! )

The M15 says short, and it is close to the H1 MAs which say long - so I generally stay out and wait for the action to move into a better area.

I am trying to only trade from M15 using the others for confirmation.

And yes, I mean "trying" - difficult to watch trades go by when you've missed the entries, etc..... I've got a bit of a...
In the beginning it's an excellent idea to stay with the M15 timeframe and only take trades consistent with the bigger TFs. As you build experience you will learn to appreciate the higher TFs also since those provide stronger reactions.
  • #3,760
  • Feb 2, 2011 11:40pm Feb 2, 2011 11:40pm
I've given up on touch trades these past few days(due to sucking horribly)to focus on constrainments, and boy are they beautiful. Here's one I just caught for +20, I bet a lot of you did as well. It's very straightforward and I felt like posting it to compliment on it's brilliance
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.JPG Size: 145 KB
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